Inuvo Prices $6.25 Million Common Stock Offering
21 January 2021 - 12:30AM
Inuvo, Inc. (NYSE American: INUV), a leading provider of
marketing technology, powered by artificial intelligence that
serves brands and agencies, today announced it has entered into a
securities purchase agreement with institutional investors for the
purchase and sale of 5,681,817 shares of its common stock, par
value $0.001 per share, at a price of $1.10 per share, pursuant to
a registered direct offering. The gross proceeds of the offering
are expected to be $6.25 million before deducting fees and other
estimated offering expenses. The closing of the registered direct
offering is expected to take place on or about January 22, 2021,
subject to the satisfaction of customary closing conditions.
A.G.P./Alliance Global Partners is acting as sole placement
agent for the offering.
This offering was made pursuant to an effective shelf
registration statement on Form S-3 (File No. 333-239147)
previously filed with and declared effective by the U.S. Securities
and Exchange Commission (the “SEC”). This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. A prospectus
supplement relating to the shares of common stock will be filed by
Inuvo with the SEC. When available, copies of the prospectus
supplement, together with the accompanying prospectus, can be
obtained at the SEC’s website at www.sec.gov or from
A.G.P./Alliance Global Partners, 590 Madison Avenue,
28th Floor, New York, New York 10022 or by email at
prospectus@allianceg.com.
About InuvoInuvo®, Inc. (NYSE American: INUV)
is a market leader in artificial intelligence, aligning and
delivering consumer-oriented product & brand messaging
strategies online based on powerful, anonymous and proprietary
consumer intent data for agencies, advertisers and partners. To
learn more, visit www.inuvo.com.
Safe Harbor / Forward-Looking Statements
This press release includes certain “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which are intended to qualify for the “safe harbor” from
liability established by the Private Securities Litigation Reform
Act of 1995. All statements other than statements of historical
fact are forward-looking statements. Forward-looking statements
include, without limitation, statements about the expected closing
of the offering; anticipated gross proceeds from the offering; and
other risks and uncertainties detailed in Inuvo, Inc.’s Annual
Report on Form 10-K for the fiscal year ended December 31, 2019,
Inuvo’s subsequent Quarterly Reports on Form 10-Q for the periods
ended March 31, 2020, June 30, 2020, and September 30, 2020 and our
other filings with the SEC. Additionally, forward looking
statements are subject to certain risks, trends, and uncertainties
including the continued impact of Covid-19 on Inuvo’s business and
operations. Inuvo cannot provide assurances that the assumptions
upon which these forward-looking statements are based will prove to
have been correct. Should one of these risks materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those expressed or implied in any forward-looking
statements, and investors are cautioned not to place undue reliance
on these forward-looking statements, which are current only as of
this date. Inuvo does not intend to update or revise any
forward-looking statements made herein or any other forward looking
statements as a result of new information, future events or
otherwise. Inuvo further expressly disclaims any written or oral
statements made by a third party regarding the subject matter of
this press release.
Inuvo Company Contact: Wally
Ruiz Chief Financial Officer Tel (501)
205-8397 wallace.ruiz@inuvo.com
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